Miss on total jobs added, miss on the jobless rate. Still a decent report with the headlines though.
Employment Change: +17.9K ......... the number of people employed hit a record high 13.39m
- expected +40.0K, prior +77.4K
Unemployment Rate: 4.0% ............. playing around with decimals, March is 3.95% vs. February's 4.04%
- expected 3.9%, prior 4.0% (lowest since August of 2008)
Full-Time Employment Change: +20.5K
- prior was +121.9K
Part-Time Employment Change: -2.6K
- prior was -44.5K
Participation Rate: 66.4%
- expected 66.5%, prior was 66.4%
More:
The 'underemployment rate dropped to 6.3%
- underutilisation rate 10.3% (lowest since September of 2008)
- hours worked fell
I mentioned earlier the next focus for the RBA wi8ll be the CPI from Australia due on April 27. Inflation is headed higher globally and its difficult to think Australia's rate will not. The jobs market is solid, wage growth is, officially, still sluggish though. The next RBA meeting is May 3. If the CPI comes in hot, which I thiink it will, the RBA should cave to the inevitable and jack up rates ... in the middle of the election campaign.
eur
